AUD/JPY: Daily Range, Character and Trading Hours
AUD/JPY moves a median of 79 pips per day. Half of all days fall between 53 and 113 pips, and the widest day in our sample reached 355. Every figure below comes from 518 daily bars covering 2024-07-29 to 2026-07-30.
AUD/JPY character: how the pair behaves
A classic risk barometer: a commodity currency against a safe haven. When sentiment improves both legs push the cross in the same direction, and when it deteriorates the reversal is faster than the preceding rise.
Measured daily range
- Median daily range: 79 pips
- Typical band (middle 80% of days): 53–113 pips
- Widest single day in sample: 355 pips
- Median close-to-close change: 39 pips; the largest 20% of days exceed 75
- Range of the pair over the whole period: 86.84–114.76, a span of 2792 pips
The gap between the median range and the widest day is the number worth remembering. A stop sized for a typical day is not a stop sized for the tail, and the tail is where accounts are damaged.
When it trades
Asian hours, when both currencies have their natural flow.
Who it suits
More useful as a sentiment gauge than as a standalone instrument. If your idea on a commodity currency contradicts this cross, the market disagrees with you.
Sizing a position on AUD/JPY
The asymmetry matters for sizing: gains accumulate slowly while the carry works, and losses arrive in a single session when it unwinds. A position sized comfortably during the calm phase will be uncomfortable during the unwind.
Data: 518 daily bars, 3 incomplete bars excluded. The sample is available for download and the method is described in how we run backtests. What actually moves this pair is covered separately in what drives AUD/JPY.
This material is educational and is not individual investment advice. Trading forex carries the risk of losing capital.
Frequently asked questions
Why is AUD/JPY called a risk barometer?
It pairs a commodity currency against a safe haven, so both legs move the same way when sentiment changes. That makes it one of the clearest expressions of risk appetite in the currency market.
What is the carry trade in AUD/JPY?
Borrowing in low-yielding yen to hold higher-yielding Australian dollars. The position earns the rate differential while conditions are calm and unwinds violently when they are not.
How can AUD/JPY be used as a filter?
As a check on other ideas: if your plan on a commodity currency contradicts the direction of this cross, the market disagrees with you.
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